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Novartis’s net U.S. drug prices this year are “flat to declining,” he said, including the impact from its Sandoz generics unit where price pressure continues in the United States. Novartis now predicts Sandoz sales for 2018 will fall in the low single digit percentages, after previously holding out hopes for them to remain steady. Narasimhan is still reviewing options for the U.S. generics business, but said Novartis remained committed to its Sandoz unit as a whole. Ahead of the planned spinoff of Novartis’s Alcon eye-care business to shareholders, set for early next year, Novartis raised the unit’s sales guidance to mid-single digit percentage growth for 2018 after revenue in the second quarter grew 5 percent to $1.8 billion.
Second-quarter growth was also helped by a 40 percent increase in Cosentyx sales to $701 billion, a development analysts said was a relief after sales of the medicine missed expectations at the start of 2018, “It confirms Q1’s blip was a combination of not just rebates but also wholesaler destocking,” Deutsche Bank’s Tim Race wrote in a note, “All in all, we sum up the quarter letter v cufflinks as solid.”, Novartis has been in the firing line over a $1.2 million contract with Trump’s former lawyer for consulting work, U.S, lawmakers accused the firm last week of misleading the public about the depth of its contacts with Michael Cohen, Novartis disputes this..
Narasimhan, who has said the contract was a mistake, said no outstanding U.S. government or congressional inquiries remained into his company’s ties to Cohen’s firm that paid $130,000 to pornographic film actress Stormy Daniels. “I view the Cohen issue as closed at this point,” he said. “We’re really focused on our future.”. Narasimhan said Novartis was on track to file for regulatory approval by October of its gene therapy for spinal muscular atrophy, which came with its $8.7 billion purchase of AveXis.
LONDON (Reuters) - Boeing Co (BA.N) is in talks with Airbus (AIR.PA) and other companies about joining its bid for a 4 billion euro ($4.7 billion) heavy-lift helicopter contract in Germany, the head of business development for Boeing’s defence unit said on Wednesday, Gene Cunningham told Reuters that Boeing was continuing to fine-tune its approach for the German competition, which pits Boeing’s CH-47 Chinook against the new CH-53K Sikorsky King letter v cufflinks Stallion built by Lockheed Martin (LMT.N)..
The German defence ministry expects to start the competition later this year or early next, with the target of awarding a contract in mid-2020 for deliveries to start in 2023. “We are still in talks with other companies, Airbus included, and we continue to strengthen the team that we’ve put in place,” Cunningham said in an interview at the Farnborough Airshow outside London. He said those discussions would continue as the proposal process unfolded, and Boeing evaluated Germany’s needs for the new helicopters and subsequent servicing.
Boeing has already teamed up with 10 German firms to bid for the contract, squaring off with the biggest U.S, arms maker, Lockheed Martin (LMT.N), which has also announced agreements with Germany’s Rheinmetall (RHMG.DE) and other firms, Cunningham said the CH-47 was well positioned to win the contract given its performance, cost and the fact it is already in use by a number of Germany’s NATO allies, including the Netherlands, Britain, Spain, Canada and Italy, The CH-53K is a new aircraft developed for the U.S, Marine Corps that is due to be declared operational letter v cufflinks in 2019, The new helicopters will replace the existing CH-53G fleet that has been flying for over 45 years..
Buying the Chinook would strengthen cooperation among German and its NATO partners, while providing assurance that the products and capabilities would be readily available to be available, Cunningham said. He said he did not expect changes at the helm of the German air force and arms procurement arm to affect the competition. “I don’t envision a significant change,” he said. Barry McCullough, who leads business development at Lockheed’s rotary and missions systems business, said cost would clearly play a role, and that his company was working hard to reduce the cost of the new CH-53K aircraft.
DUBLIN (Reuters) - Ryanair is to cancel more than 12 percent of its flights for two days next week in its biggest-ever strike as cabin crew letter v cufflinks escalate a staff revolt that began among disaffected pilots last year, The Irish airline, Europe’s largest by passenger numbers, said in a statement it expected disruption to the travel plans of almost 50,000 customers traveling to and from Belgium, Portugal and Spain on July 25 and 26, as it would cancel up to 300 flights per day, “These strikes are entirely unjustified and will achieve nothing other than to disrupt family holidays,” the airline said in a statement..